We just have to get the word out that without drilling, we lose.
the world’s endowment of recoverable oil which
consists of cumulative production, remaining reserves, reserve growth and undiscovered resources is estimated at about 3
trillion barrels of oil. Of this, about 24 percent has been produced and an additional 29 percent has been discovered and
booked as reserves. The natural gas endowment is estimated at 15.4 quadrillion cubic feet (2.5 trillion barrels of oil
equivalent), of which only about I I percent has been produced and an additional 31 percent has been discovered and
booked as reserves.
Significant additional undiscovered gas resources may occur in a
number of areas where large discoveries have been made but remain undeveloped. Examples include East Siberia and the
Northwest Shelf of Australia.
About half of the assessed undiscovered petroleum potential of the world is offshore,
especially outside the established provinces of the United States, former Soviet Union, Middle East and North Africa.
Arctic basins, which hold about 25 percent of the undiscovered petroleum resources, make up the next great frontier.